Stock market update: Sensex falls 150 points, Niftty below 11550
Amid weak global cues, Benchmark indices started the week on a depressed note. The S&P BSE Sensex falls below 171.79 points or 0.45 per cent to trade at 38,218.03. Whereas the broader Nifty50 was trading at 11,539.75, down 49.35 points or 0.43 per cent.
For the eight straight day, the Asian shares faltered on Monday. On the other hand, US dollar climbed as US President Donald Trump further intensified their stakes in the ongoing US-China trade war.
In the morning session, the main losers on Sensex pack were Power Grid, Sun Pharma, ICICI Bank, Kotak Bank and Tata Motors. The main laggards on Nifty pack were Tata Motors (-1.46%), Sun Pharma (-1.34%), Infratel (-1.19%), ONGC (-0.995), ICICI Bank (-0.98%).
After three days of continous fall, oild prices were firmer today in the commodities market. Spot gold was mostly unchanged at $1,194.84. U.S. crude futures up 44 cents at $68.19 per barrel. Brent crude futures added 48 cents to $77.31 a barrel.
Meanwhile, the major gainers in the 30-share Sensex pack in the session were Axis Bank, Infosys, Tata Steel, Wipro, TCS and NTPC. Infosys (+1.25%), Axis Bank (+0.77%), Vedanta (+0.74%), Power Grid (+0.52%) and Lupin (+0.48%) led the pack of Nifty gainers.
In the meantime, S&P BSE Sensex rose 147.01 points to close at 38,389.82, while the NSE Nifty settled at 11,589.10, registering a gain of 52.20 points, or 0.45 per cent, on Friday.